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Haneti Project - Lithium Prospectivity and New Licences

Metal News - Published on Thu, 11 Jul 2019

Image Source: Lithium Prospectivity
Katoro Gold PLC the Tanzanian focused exploration and development company, is pleased to provide an update in respect of its 75% owned Haneti Nickel Project in Tanzania.

Summary:

As part of regional exploration reconnaissance, the Haneti exploration team have identified several pegmatite outcrops included within two abandoned artisanal pits;

The pegmatites appear to intrude along the sheared contact between granite gneisses and serpentinised ultramafic rocks and consist of coarse quartz, lepidolite, and red and black tourmaline;

Lepidolite contains significant lithium and its presence may be indicative of the presence of lithium minerals such as spodumene and petalite. These pegmatites can also prove prospective for rare earth elements as well as other exotic minerals such as tantalite-columbite;

There is a clear indication for further exploration work in this area and Eagle Exploration Ltd, the Tanzanian subsidiary of Katoro which holds 100 per cent. of Haneti and which the Company has a 75 per cent. interest in, has applied for five additional exploration licences in the area covering the zones of interest; and

A further work program is being developed which may include a regional desktop study, detailed field mapping and geochemical analysis, principally to identify lithium bearing minerals including spodumene and petalite and to assess the extent of any mineralisation identified.

Mr Louis Coetzee, Executive Chairman of Katoro commented that "The main thrust of our work to date at Haneti has been exploration for nickel sulphides, and we will be publishing details of the planned drill program in this regard shortly. Notwithstanding the nickel sulphide focus, work completed to date has also identified the potential for lithium and rare earth element mineralisation and we have decided to investigate this potential immediately, and in parallel to our nickel drill program. Recognising the findings, we have moved to rapidly secure licence ground to cover the areas of interest and may extend this licence coverage, should additional zones of interest be identified. These are exciting times for Katoro as we move into the initial fully funded drilling phase for nickel sulphides and now undertake work to investigate lithium prospectivity."

Source :

Posted By : Ratan Singh on Thu, 11 Jul 2019
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